Consumer TechConsumer technology is going to exist indefinitely, perhaps for as long as the human species exists. At CleanTechnica, we try to feature consumer technologies that help to reduce global warming pollution and other types of pollution. For example: electric cars, solar panels, bikes, energy efficient appliances and electronics, and green smartphone apps. Keep an eye on this category for all sorts of fun and cool, helpful consumer technology.

ExxonMobil Shareholders Demand Natural Gas Fracking Risk Assessment

At the ExxonMobil’s annual shareholders meeting on May 26th, the San Francisco-based sustainable investors group As You Sow asked for a vote on forcing the company to assess the risks to drinking water, public health, and shareholder value associated with hydraulic fracturing for natural gas.

[social_buttons]

Representing the holders of 16,746 ExxonMobil shares valued at more than $1.1 million, As You Sow – as well as the two largest US proxy voting services, RiskMetrics Group and Proxy Governance – want to enforce disclosure of the environmental risks of “fracking” for natural gas, a process that injects high volumes of water, chemicals and particles underground to create fractures through which gas can flow for collection.

New social proposals usually only receive between 5-7% of the vote. But, demonstrating that mainstream investors are already aware of and concerned about the risks that hydraulic fracturing poses to the nation’s water supplies, it received over 26% support.

Two concepts are essential to investor confidence: disclosure and the mitigation of risks. But two thirds of the 31 states have no regulations covering hydraulic fracturing, none require an accounting of the fracking fluid remaining, and only ten even want to know what chemicals were injected.

The disaster in the Gulf of Mexico teaches us that there is a risk with no oversight. Drowning government in a bathtub risks taking all of us down the drain along with it.

That is one risk. But for shareholders, regulatory risk normally is assessed as well, because it has an economic impact on profits.

About the Author

Susan Kraemer writes at CleanTechnica, CSP-Today, PV-Insider , SmartGridUpdate, and GreenProphet. She has also been published at Ecoseed, NRDC OnEarth, MatterNetwork, Celsius, EnergyNow, and Scientific American.
As a former serial entrepreneur in product design, Susan brings an innovator's perspective on inventing a carbon-constrained civilization: If necessity is the mother of invention, solving climate change is the mother of all necessities! As a lover of history and sci-fi, she enjoys chronicling the strange future we are creating in these interesting times.
Follow Susan on Twitter @dotcommodity.

Wind Energy

Search the IM Network

The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by, and do not necessarily represent the views of Sustainable Enterprises Media, Inc., its owners, sponsors, affiliates, or subsidiaries.